Svmuu reported that Adam @Greeks.live posted on X platform, stating that on May 8th, 20,000 BTC options expired, with a Put/Call Ratio of 0.73, a max pain point of $79,500, and a notional value of $1.6 billion; 182,000 ETH options expired, with a Put/Call Ratio of 0.93, a max pain point of $2,350, and a notional value of $410 million. This week, Bitcoin rose from $75,000 to $82,000 before pulling back last night. The implied volatility (IV) and realized volatility (RV) for major tenors and short-term options remained unchanged from last week, while short-term RV has increased. The IV for Bitcoin's main short-term tenors is around 35%, and for ETH's main short-term tenors, it is around 50%, with a slight decrease in medium-to-long-term tenors.
Major options data shows that Skew is relatively stable and slightly rising, with market directional sentiment remaining neutral. Only 5% of options expire this week, resulting in extremely low options activity, with futures trading volume hitting a historical low. Approximately 20% of positions are set to expire at the end of May, and about 30% at the end of June, with large block trades being relatively inactive.
Adam @Greeks.live indicated that in the second quarter of this year, Bitcoin performed well in terms of both price and hype, but the overall market sentiment remains subdued. Currently, focusing primarily on Bitcoin and laying out some medium-to-long-term options seems reasonable, while positioning in some high-quality altcoins also appears to offer good value.